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OPEC+ countries plan to meet in June — sources

The previous ministerial meeting was held in December 2022 in a videoconference format

MOSCOW, May 4. /TASS/. The ministerial meeting of OPEC+ countries scheduled for June 4 is planned to be held in a face-to-face format, two sources in delegations told TASS.

"Yes," one of the sources said when asked whether the OPEC+ meeting is planned in a face-to-face format. Another source confirmed the information.

The previous ministerial meeting was held in December 2022 in a videoconference format.

In October 2022, OPEC+ member states agreed on a reduction in output by 2 mln barrels per day starting November, as well as extended the transaction until the end of 2023. On April 2, a number of OPEC+ nations announced a voluntary output reduction from May to the end of 2023. The decisions were confirmed following the meeting of the OPEC+ ministerial monitoring committee held on April 3. The total volume of voluntary reduction will amount to 1.66 mln barrels per day and will become an addition to agreements enforced in November 2022 on reduction in output by 2 mln barrels per day within the framework of the OPEC+ deal.

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